Cardano has been invited to the big kid table at Grayscale Investments. The world’s leading digital asset management fund recently rebalanced its portfolio, selling some existing assets in order to buy Cardano. ADA is now the fund’s third-largest holding, after crypto-giants Bitcoin and Ethereum.
Now, ADA accounts for 4.26% of Grayscale’s total portfolio, which is more than 4x their holdings in any other altcoin. Following the exciting announcement on Twitter, Cardano prices jumped more than 6%, securing its spot as the fastest gainer in the top 10 digital currencies at press time.
@Grayscale tweeted: “Welcome aboard, #Cardano. We have adjusted the portfolio of Grayscale Digital Large Cap Fund to now include $ADA”
Grayscale will undertake another quarterly portfolio readjustment in September, and we will be interested to see what emerges in that round.